Eliminate Your Unsecured Debt
Do you have debt that has spun out of control? If you have reached a point where you are truly unable to repay your debts and you are being targeted by creditors, you should consider whether you could benefit from Chapter 7 bankruptcy.
Through this process, you can get your unsecured debt discharged, meaning you are no longer legally obligated to pay it.
If you are in this position you need to call a Chapter 7 bankruptcy lawyer. Dion R. Hancock, P.A. serves chapter 7 bankruptcy clients in Tampa, St. Petersburg, Clearwater, Brandon, Palm Harbor, Pinellas Park and sourrounding areas.
Are you struggling to pay your bills? Contact the bankruptcy law firm of Dion R. Hancock, P.A. today. We can help you take control of your financial future. With more than 12 years of dedicated experience, Dion Hancock has obtained the extensive knowledge necessary to provide you with the a customized, effective debt relief solution. It is not uncommon to run into financial difficulties. We understand how stressful and emotionally exhausting this type of situation is.
Whether you have fallen into debt due to a job layoff, divorce, or medical issue, we are here for you through this difficult time. When you secure the representation of our firm, we will address you concerns and answer all of your questions in order to give you the peace of mind that you deserve. This financial hardship does have a solution.
Liquidating Your Assets & Discharging Your Debt
Chapter 7 bankruptcy is the most common type of bankruptcy filed in the United States. With the help of a legal professional, you can complete this process in just a few months. Also known as debt “liquidation” bankruptcy, Chapter 7 bankruptcy gives individuals with large amounts of unsecured debt the chance to have most or all of their debts discharged.
Essentially, once you file for Chapter 7 bankruptcy, all of your non-exempt property will be turned over to your bankruptcy trustee. The trustee will sell those non-exempt assets and then distribute the cash to your creditors. As a result, your legal obligations on the unsecured debts will be eliminated, and you will be released of any payment liability.
Each Chapter 7 applicant is required to pass the means test in order to establish his or her eligibility. This test evaluates your financial status to determine whether or not you earn less than the median income of the average Florida family. You might also pass the means test if your disposable income (the amount of money you have left after paying certain expenses) is low enough.
You can use Chapter 7 bankruptcy to discharge unsecured debt such as:
- Credit card bills
- Personal loans
- Medical bills
- Signature Loans
- Second Mortgages
- Lines of Credit
There are, however, certain debts that typically cannot be discharged through Chapter 7 bankruptcy. These include debts such as government-funded student loans, alimony payments, income, and court-ordered fines and penalties.
Get the financial solutions you deserve
With the federal government creating stricter bankruptcy laws over the years, there is a common misconception that it is nearly impossible for individuals to qualify for Chapter 7 bankruptcy. In reality, this type of bankruptcy is actually much more attainable than many people realize. However, because of the complex nature of Chapter 7 bankruptcy, it is important that you consult with a competent attorney before taking action.
As a Tampa bankruptcy attorney who has over twelve years of experience, Dion Hancock has a unique understanding of the bankruptcy system and can offer you effective legal guidance. When you work with our firm, we will prepare all of your legal paperwork and ensure that all your legal deadlines are met. We want to help you break free of your debt.